Jan 18, 2013 3:00am PST
're going to face it again, you know, debt ceiling stuff, what is the republican strategy in dealing with the democrats? david. >> you know, mike, i was on capitol hill this week talking to top republicans, and i'm getting a sense and you're seeing it written about as well, that they would maybe like to step away from the brink about the debt ceiling. they do want to force the issue about how can they get this president to agree to additional spending cuts? the debt ceiling is a dangerous game. i think they recognize that politically. they'll push -- the question is how -- how do they push on the debt ceiling? do they say, look, we'll give you a short-term extension of the debt ceiling for a certain amount of spending cuts, or we'll give you a long-term extension like you want for even more spending cuts. can they force entitlement reform around medicare, for instance, even some of the -- in their view -- more limited things that the president wants to do around means testing and age and indexing to try to attach that to a debt-limit deal. do they move beyond the debt limit, try to g
Jan 18, 2013 6:00am EST
that this deal now would have to include an extension of the debt ceiling that they just got to avoid the fiscal cliff. well, he ultimately folded on that. so as a tactical matter, even in their minority position, they can look at this and see, well, there is some gain to be gotten here if we keep pushing on this. i think the flip side of this is also a big challenge for the president. if he really wants to unshackle the economy, if he wants to get more robust economic growth, does he not want to be more proactive about dealing with some of these entitlements, with dealing with the budget picture, even where he has real problems with his supposed, you know, partners in this to republicans? does he not want to take advantage of the power he has to try to advance this, to get more robust economic growth independent of his misgivings about his partners here on capitol hill. >> chuck, i think it's fair to say that harry reid was somewhat marginalized during negotiation biden sort of swooped in to save the day. what do you see as his role going forward as we edge toward these upcoming fiscal cliffs?
Jan 18, 2013 6:00am EST
and the time we deal with the debt ceiling and we may meet the goal which we set out to do, which is to have roughly a $4 trillion cut over 10 years in the long-term deficit and to put us on that path. talk didn't come here to about any of those important subjects today, because as important as they all are today we have a more urgent and immediate call and that is how to deal with the epidemic of gun violence in america. you all know the statistics better than anyone so i'm not going to repeat them. on that score, i owe an incredible debt of gratitude to you at the head table and those of you in the room. i know we don't have unanimity in this ballroom nor do we in any ballroom, but we all acknowledge that we have to do something. we have to act. and i hope we all agree, there is a need to respond to the carnage on our streets and in our schools. i hope we all agree that mass shootings like the one we witnessed in newtown 34 days ago cannot be continued to be tolerated. that tragedy has affected the public psyche in a way i have never seen before. the image of first graders, not only shot,
Jan 18, 2013 1:00pm EST
had word that gop controlled house might have a deal. might vote next week to raise the debt ceiling for even three months. there is a very muted reaction and what to watch here are how people are buying etfs. this is the s&p 500. you can buy it in a single stock and you might say, oh, gee, there is a move there to the far right on the upside when the announcement came. but it is a very, very narrow amplitude. very narrow range of trading. that's about three points on the s&p 500. the volume did pick up and we will have volume towards the heavy side today. if you think that is good news pushing the debt ceiling out for stocks and i think generally would you look at it as good news, it certainly is fairly muted here. as for the major indices for the week, what simon was just talking about, there are deeper cyclical changes. big industrial names have been generally outperforming and that is very good news, if you think the global economy, those stocks would more closer would the global economy. >> you get this, this real tight hugging of the flat line friday. monday, tuesday, wednesday
Jan 17, 2013 8:00pm EST
between now and the time we deal with the debt ceiling, that we may very well be able to meet the goal which we set out to do, which is to have roughly a $4 trillion cut over ten years, and in the long-term deficit and put us on that path. but i didn't come here to talk about any of those important subjects today because, as important as they all are, today we have a more urgent and immediate call, and that is how to deal with the epidemic of gun violence in america. you all know the statistics very well so i'm not going to repeat them. on that score, i might add, oui an incredible debt of gratitude to many of you at the head table as well as those of you in the room. i know we don't have absolutely unanimity in this ballroom, nor do we in anyway ballroom, but we all know, everyone acknowledges, we have to do something. we have to act. i hope we're all agreed that there's a need to respond to the carnage on our streets and in our schools. i hope we all agree that mass shootings like the ones we witnessed in newton 34 days ago, cannot continue to be tolerated. that tragedy in all my yea
Jan 18, 2013 9:00am EST
there not be crisis after crisis dealing with the debt ceiling. >> you said last night, you've got to put on a yogi bear costume to make sense of it. >> returning a lot to shareholders. >> one wonders. >> $12 million they're talking about. >> they have been increasing, of course, ever since the huge cuts that had to take place. what is it going to be now, four years ago, right? >> that period, $6. >> yeah. >> march of '09. amazing, coming up on the four-year anniversary. >> do you ever worry about your paycheck? >> yeah. i think you worry about money you had in any bank account or anything. sure. ge was to cushifocused in the ff '08, that was the moment where it could all come to -- >> that was after the ge bailout. >> sorry, not to revisit the -- >> we have to remind people where we came from. tim geithner leaving, david faber is worried about his paycheck. >> speaking of paychecks, let's talk morgan stanley. wall street firm reporting fourth quarter earnings 45 earlier on squawk, james gorman said his firm is poised to improved market environment. which shows a lot of promise if uncertainty is re
Jan 17, 2013 11:00pm EST
, between now and the time we deal with the debt ceiling, we may very well be able to meet the goal we set out to do, which is to have roughly $4 trillion cut over 10 years in the long-term deficit and put us on that past. i didn't come here to talk about any of this important subjects today because as important as they all are today we have a mortgage and indie media call and that is how to do with the epidemic of gun violence in america. the one of the statistics better than anyone, so i'm not going to repeat it. on that score i might add ale in a credible threat of gratitude to many of you at the table as well as those of you in the room. i know we don't have unanimity and this ballroom, nor do we have any ballroom, but we all know, it wanted knowledges we have to do some gain. we have to act and i hope we all agree there's a need to respond to the carnage on our streets and in our schools. i hope we all agree that mass shootings like the one we witnessed in your newton cannot be tolerated. that tragedy in public life has affected the public safety in a way that i've never seen before.
Jan 17, 2013 8:00pm EST
sit here tonight on the eve of the inauguration on monday, on -- just days ahead of debt ceiling conversations, days after fiscal cliff negotiations. was that deal good for poor people? >> for 30 years, we have not addressed this issue, except for the wonderful work that you and cornel are doing in these wonderful people on the panel. politics has neglected the poor. one could say that there was a war on the poor rather than a war on poverty for much of this period. the united states has by far the most poverty of any of the high-income countries as a share of the population. we have the highest in quality. we have the most entrenched underclass. we have had the biggest increases of any quality by leastnd we've had the political response of any high- income countries, so we are standing out on our own. this has been a 30-year trend of soaring in comes at the top, stagnation in the middle, and falling through the floor on the bottom, and the political system has refused to address this for 30 years. so we have reached a calamitous situation in this country, but the fact of the mat